Five furniture and carpet retailers have changed their pricing practices following an investigation by the Office of Fair Trading.

GENERAL MERCHANDISE

Five furniture and carpet chains change pricing after OFT investigation

21 March 2014 | by The Retail Bulletin

Five furniture and carpet retailers have changed their pricing practices following an investigation by the Office of Fair Trading.

The OFT closed its investigation after Carpetright, Dreams, Furniture Village, Harveys and Bensons for Beds each confirmed their commitment to using “genuine reference prices” and, without any admission of liability, made changes to their reference pricing practices.

The organisation said improper use of reference prices, such as when the 'discounted' price is in fact the normal retail price of a product, could only serve to mislead shoppers.

Gaucho Rasmussen, OFT director of goods and consumer group said: "Retailers advertise bargains and discounts by referring to a previous or future higher price. It's a powerful marketing tool which, when used properly, provides a helpful and easy way to demonstrate to shoppers the value of discounts and savings.

"We are therefore pleased that these retailers have confirmed their commitment to using genuine prices."

Carpetright executive chairman Lord Harris said: "We are pleased the OFT has publicly welcomed Carpetright's commitment to open and transparent pricing. When customers visit Carpetright they can be confident of getting good quality products at a competitive price, which is supported by our price promise."

Earlier this year, carpet retailers United Carpets and Floors2go also their changed pricing practices after an OFT investigation.

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